Wilmington, North Carolina (WECT) – From the beaches of southeastern North Carolina to the mountains of the west, the Old North State has a lot to offer. North Carolina was the second-largest destination for retirees last year, behind only Florida.
So what’s driving the trend? Sure, North Carolina’s natural beauty and mild climate make it a great place to live, but more Americans are looking to find cheaper homes. I am looking forward to retiring.
“Inflation and the accompanying rise in the cost of living may contribute to why more than 12{ea2cba5bdf6fe62bbe85e24807814144a71e77d3ae7311fbc27a008558d1372c} of American retirees who moved in 2022 said they moved to find cheaper housing. This was second only to “other family reasons” (e.g., “closeness to family”). Cost-conscious retiree movement is at its highest level since 2014. Hire a Helper 2022 Retiree Survey.
Housing costs in North Carolina have risen in recent years, but are still relatively cheap compared to other states. Still, as more people move to the state, these affordability may be a thing of the past, at least in popular destinations like Wilmington.
“It really impacts affordable housing. Affordable housing is a big issue nationwide, but especially in these places that are attracting people to migrate. Affordability starts to disappear,” said Miranda Marquit, Chief Data Analyst at Hira Helper.
Florida may not be in the top spot with 11.8{ea2cba5bdf6fe62bbe85e24807814144a71e77d3ae7311fbc27a008558d1372c} of all retirees moving there, but in 2022 North Carolina’s allure will catch up, attracting nearly 10{ea2cba5bdf6fe62bbe85e24807814144a71e77d3ae7311fbc27a008558d1372c} of retirees .
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